WHITE PLAINS – A total of 5,500 new jobs were created in the Hudson Valley year over year in February, the state Department of Labor reported Thursday. At the same time, the unemployment rate inched up by 0.6 percent.

DOL analysis John Nelson said the professional business services sector, education and health, and construction, all continue to show gains in jobs.

The financial activities sector continues to be plagued with problems, primarily due to the sub-prime mortgage industry and its problems, and that can continue, he said.

Nelson said there could also be some economic fallout from financial industry businesses.

“Some of the companies on Wall Street have back office operations in our region, and as you know, whenever they announce cutbacks, any number of units could be affected,” he said. “So, if they have a back office operation in our region, those people could be affected also.”

Nelson said the long range fallout won’t be known for another couple of months.

The Putnam-Rockland-Westchester Metropolitan Statistical Area ranked fourth out of all 10 in the state in February. Ulster County ranked sixth and the Dutchess-Orange MSA ranked eighth.